Payments/Credit/Debit

The Smart Card Alliance, an association of companies working in the smart card industry, has praised the Federal Reserve for a regulatory change which the Alliance said will help advance smart cards.

The House Judiciary Committee's Antitrust Task Force's first foray into the topic of credit card interchange on July 19 appeared to produce more questions from lawmakers than answers as witnesses on the two sides of the issue offered conflicting versions of credit card reality.

Visa USA is arguing to lawmakers that competition already exists when it comes to credit card interchange.

When the House Judiciary Committee's Antitrust Task Force convenes a hearing on credit card interchange today at 2:00 p.m., one of the arguments lawmakers will likely hear will be based on the experience of Australia with card interchange.

The $327 million La Capitol Federal Credit Union has signed up with PSCU Financial Services for processing both its credit and debit programs.

Triton, a leading manufacturer of ATMs, has continued to seek a stronger presence in the financial institution market, particularly among credit unions and smaller banks.